What is a currency?

A currency[a] is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a system of money in common use within a specific environment over time, especially for people in a nation state.

What is a currency & how does it work?

Currency is a medium of exchange for goods and services. In general, it's money in the form of paper and coins, usually issued by a government and generally accepted at its face value as a method of payment. Currency is the primary medium of exchange in the modern world, having long ago replaced bartering as a means of trading goods and services.

What is the difference between money and currency?

Money is a broader term that refers to an intangible system of value that makes the exchange of goods and services possible, now and in the future. Currency is simply one tangible form of money. Money is used in a variety of ways, all related to its future use in some kind of transaction. For example, money is a store of value.